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[Brooklands]

It is announced officially today that NAC Group, the parent company of Nanjing Automobile Corporation (UK) Limited (NAC UK) has signed a letter of intent on cooperation with SAIC Group that will see the two companies seek for a commercial partnership in the near future.

The two companies share a common vision to jointly build an automotive group that will become the largest, world class automotive group in China with the resources to develop a highly effective global development strategy.

In order to effectively integrate and make the best use of the joint resources of the two companies, there will be a carefully devised strategic cooperation on passenger cars, commercial vehicles and independent brands, as well as automotive parts and component manufacturing.

“The two parties have agreed to an initial exploration of a co-operation,â€Â